Waste Connections, Inc. (NYSE:WCN) Shares Acquired by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. boosted its stake in Waste Connections, Inc. (NYSE:WCN) by 3.2% during the 1st quarter, HoldingsChannel reports. The fund owned 62,180 shares of the business services provider’s stock after buying an additional 1,925 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Waste Connections were worth $10,700,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WCN. Royal Bank of Canada raised its stake in shares of Waste Connections by 20.5% in the 3rd quarter. Royal Bank of Canada now owns 11,294,922 shares of the business services provider’s stock valued at $1,516,908,000 after purchasing an additional 1,920,302 shares in the last quarter. TD Asset Management Inc raised its stake in Waste Connections by 9.8% during the fourth quarter. TD Asset Management Inc now owns 5,715,923 shares of the business services provider’s stock valued at $856,641,000 after buying an additional 509,929 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Waste Connections by 43.4% during the 4th quarter. Wellington Management Group LLP now owns 4,364,071 shares of the business services provider’s stock worth $651,427,000 after buying an additional 1,320,933 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Waste Connections by 7.3% in the 4th quarter. 1832 Asset Management L.P. now owns 4,104,003 shares of the business services provider’s stock worth $612,605,000 after acquiring an additional 280,275 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Waste Connections in the 4th quarter valued at approximately $592,392,000. 86.09% of the stock is currently owned by institutional investors.

Insider Transactions at Waste Connections

In related news, SVP Robert Nielsen III sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $166.00, for a total value of $332,000.00. Following the sale, the senior vice president now directly owns 6,321 shares in the company, valued at approximately $1,049,286. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael W. Harlan sold 1,500 shares of Waste Connections stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.59, for a total value of $251,385.00. Following the transaction, the director now owns 8,004 shares of the company’s stock, valued at approximately $1,341,390.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Nielsen III sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $166.00, for a total transaction of $332,000.00. Following the sale, the senior vice president now directly owns 6,321 shares of the company’s stock, valued at $1,049,286. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,500 shares of company stock valued at $752,385. Corporate insiders own 0.31% of the company’s stock.

Waste Connections Stock Performance

WCN stock traded up $1.17 during trading on Tuesday, reaching $175.09. 923,071 shares of the company’s stock were exchanged, compared to its average volume of 899,147. The firm has a market cap of $45.18 billion, a PE ratio of 56.86, a P/E/G ratio of 2.80 and a beta of 0.72. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.00. Waste Connections, Inc. has a 1-year low of $126.12 and a 1-year high of $177.25. The company’s fifty day moving average price is $167.35 and its 200-day moving average price is $162.72.

Waste Connections (NYSE:WCN) last announced its earnings results on Wednesday, April 24th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Waste Connections had a net margin of 9.70% and a return on equity of 14.66%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. Waste Connections’s revenue was up 9.1% compared to the same quarter last year. On average, research analysts expect that Waste Connections, Inc. will post 4.85 EPS for the current fiscal year.

Waste Connections Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Wednesday, May 8th were issued a dividend of $0.285 per share. The ex-dividend date was Tuesday, May 7th. This represents a $1.14 annualized dividend and a yield of 0.65%. Waste Connections’s payout ratio is 37.01%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group lifted their price objective on shares of Waste Connections from $195.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Waste Connections in a research report on Thursday, May 23rd. They set a “buy” rating and a $189.00 price objective for the company. StockNews.com raised shares of Waste Connections from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Royal Bank of Canada decreased their target price on Waste Connections from $196.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, BMO Capital Markets increased their price target on Waste Connections from $182.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $179.94.

About Waste Connections

Waste Connections, Inc provides non-hazardous waste collection, transfer, disposal, and resource recovery services in the United States and Canada. It offers collection services to residential, commercial, municipal, industrial, and exploration and production (E&P) customers; landfill disposal services; and recycling services for various recyclable materials, including compost, cardboard, mixed paper, plastic containers, glass bottles, and ferrous and aluminum metals.